Toby Rodes
Co-Founder and CIO, Kaname Capital. On 1 show, 1 appearance. The Shows tab opens the full record on each.
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Toby Rodes specializes in Japanese small-cap equities, focusing on fundamental deep-value investing and corporate governance engagement. Prior to co-founding Kaname Capital in 2018, he lived in Japan and worked as a senior portfolio manager at GMO.
1shows
1appearances
32statements
6resolved
4supported
0contradicted
67%fully supported
Everything Toby Rodes said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Rising Japanese Interest Rates Will Enforce Corporate Capital Discipline
“We think it's positive because what it does is it finally puts a price tag On the cost of debt, and it means that what was being offered for free, you're now going to have to pay for. And anytime you put a price tag on decision making, people start to act. So …”
Japanese Companies No Longer Benefit From Yen Weakening Past 140
“When the end went through one 40, Japanese companies started saying, you know, this is not good for us anymore. So they've already been signaling that they don't want the end to go to one 60. So they're prepared for even our round tripping back to the one fort…”
Japan's Equity Market Previously Operated Like an Unbuyable Museum
“Up until this market for control, the market really wasn't functioning. Japan was a museum. You could come, you could look, you could examine, you could read about, you could be interested in, but you couldn't buy anything.”
Japan Routed 20% of GDP Through Banks in 1997-2003 Cleanup
“20% of Japan's GDP was run through the Japanese banking system between 1997 and 2003.”
Half of Listed Japanese Companies Still Trade Below Book Value
“By most counts, still half of listed Japan trades at less than one time priced a book.”
300 High-Quality Japanese Companies Trade Under 5.5x EBITDA
“Then we just ask that we're able to get those stocks on less than five and a half times EBITDA, And lo and behold, there are still 300 of these companies in Japan.”
Kaname's Top Holdings Trade at 3.5x EBITDA and 9x Earnings
“We're still with 50% of our weight, sub four times EBITDA, about three and a half times EBITDA, nine times earnings, three percent dividend yield.”
Kaname Targets Companies Avoiding Japanese National Champion Protection Risks
“I would suggest that where we're operating though still offers another path and that the average size of our companies are distinctly middle market and nothing that we're bidding on or areas we're operating on is quote unquote essential and would fall under th…”
One line per show, most statements first. The link opens Toby's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
 CAPITAL ALLOCATORSLEDGER | Co-Founder and CIO, Kaname Capital | 1 | 32 | 67% 4/6 | full record on Capital Allocators → |